Overall Score 4.6 out of 5

Overall Score 4.6 out of 5

Personalized Score out of 5


Figure aims to make refinancing faster and simpler than ever with their 100 percent online applications. They work to process loans faster than other companies, while allowing their customers to apply entirely from the comfort of their own home. While they may be a newer company, they've quickly made a name for themselves in the mortgage field.

Review Highlights:

  • Fully online application and an expedited processing speed
  • No penalties for prepayment
  • Informative and easy-to-navigate website

Ratings Highlights

Though Figure is a new company, we've found that they are a great choice for any homeowner looking for a refinance under one of the loan types they offer. Their costs may be average, but their quality customer service and the ease of applying with them push them above many of their competitors. While homeowners interested in a VA, FHA, or USDA streamline refinance will unfortunately need to choose a different lender, we recommend that anyone else get a quote from Figure and go from there.
Loan Variety
Loans Offered Include: Fixed, conventional, cash-out, jumbo, HELOC, 15 and 30-year terms
Figure's loan variety is enough for most homeowners, though those looking for a VA, USDA, or FHA refinance will need to work with a different company. Of note, Figure does accept jumbo loans, unlike many competitors.
Based on the research we've done, Figure's rates appear to be average when compared to the market. Like most lenders, they do indicate that they charge origination fees, which homeowners should consider when calculating overall costs. Given that their prices tend to be comparable to other companies, opting to get a quote from Figure is the best way to get an accurate picture.
Customer Service
Figure makes the refinancing process easier than ever by sticking to a streamlined design and offering accessible customer service. To begin with, their site and application are intuitive and simple to use, which is a big deal when it comes to refinancing, a traditionally complicated process. For customers that prefer direct guidance, they have both an online chat and multiple support phone lines available. If customer support is an important factor to you, Figure might be the way to go.
Company Reputation
As a newer company, Figure has fewer reviews than its older competitors, which may mean that the overall rating could change in time. However, looking at their current standing, customer response to Figure is notably more positive than most of its larger competitors, largely due to more personalized service and how quickly loans are processed.
Ease of Application Process
With a fully online application that does not require a social security number until later on in the loan process, Figure scores high when it comes to ease of application. Given that they're a new company, it's actually impressive that they already provide refinancing services in 34 states -- a number that is sure to grow over time. If you want a simple, no-nonsense application process, Figure is one company to consider.
For Lower Credit Scores
Minimum Credit Score: 620-700
Figure's minimum credit score requirement is 620-700, depending on the loan. While this still leaves room for homeowners with fair to good scores, those with lower scores would do better with a different company.
For Higher Credit Scores
As Figure offers average to low rates, which tend to get lower when it comes to homeowners with higher credit scores, checking in to see what they have to offer you is a good idea. They do not have the greatest loan variety, however, so it's very possible that they won't have exactly what you're looking for.

Company Background

Founded in 2018 in San Francisco, Figure Technology, Inc.'s goal is to make finance management easy. They use their unique technology to simplify financial processes and applications so their customers have greater access to financial independence and success. Through this innovation, they're quickly making waves in the mortgage refinance sector.